SMALL STATE, BIG IMPACT

Be resilient and think big, says expert

Carl Weinberg sees resiliency as a critical component of success for an individual or business, regardless of its size or industry. Nowhere is that more evident than in Rhode Island, where a prolonged sluggish economy has businesses operating on the narrowest of margins.

Weinberg sees something else, though. He sees opportunity for entrepreneurs and established businesses to rise above the challenge – businesses that think big.

In 1974, he left Price Waterhouse, Co. to start his own firm. Today, the Warwick-based firm, Carl Weinberg & Co., LLC, represents clients locally, nationally and internationally. The firm has clients from Mexico and Asia, and an office in Hong Kong. Clients range from individuals to large corporations including small business owners, professional athletes and entertainers.

The services Weinberg provides are as varied as his client list, from individual financial planning, management consulting, auditing and accounting, tax service, estate planning, and litigation support, to divorce consultation.

There are commonalities among his clients, but Weinberg understands the specific needs, goals, and potential of each individual and business. Professional athletes and entertainers want the same thing small business owners want – individual attention.

“Everyone wants sound guidance on how to grow their company successfully and sustainably,” said Weinberg. “This means something different for every client, depending on their market and industry, their capital structure, their current financial performance and their financial projections.”

Sometimes it means suggesting to a client something they had not considered – a new market to explore or an idea to expand their business.

“We tailor our business consulting services by stepping outside of the accounting box and looking at the entire picture,” said Weinberg.

Weinberg does not accept complacency. He knows that being resilient during a difficult time means being open to new ideas and willing to make tough decisions. It’s an attitude that plays well in Rhode Island. The state may be small, but the ideas coming from it are not. The idea of operating on a large stage and tapping into opportunities that exist, is one Weinberg recommends to his clients.

“Thinking bigger,” said Weinberg, can be defined in many different ways.

"There is often an opportunity for a business to think bigger than it currently does,” he said. “Sometimes it’s as simple as changing locations and sometimes it means expanding the scope of industries where a business is practicing. An existing customer base or your distribution model can lead you to provide a new product or service. We often like to grow companies in this way, teaching the client to not have tunnel vision in regards to only their industry.”

Weinberg warns companies against “tunnel vision” and believes that the smallest state in the country offers some unique advantages when it comes to “thinking big.”

“In a small state there is limited competition and many companies’ clients have not reached far outside Rhode Island.” he said. “We have operated in many locations to assist with our clients’ reach and growth.”

This is the true Rhode Island factor, the benefit of offering a quality product or service in a place where everyone seems to know one another.

“If you do love what you do and are good at it, a reputation can carry you a lot further than a small state where more business people are connected by a larger network,” said Weinberg.